Sure they turned around the fact that the X1 was going to be a total disaster for MS, into a decent console. That being said MS still has a lot to prove with the X1 and only time will tell how that goes. Including the price point, to prove the X1's first part exclusive support won't dry up in a few years and Kinect.
The difference between MS and Sony right now is that Sony has a plan for the PS4 and so far is willing to stick with it. Sony has an idea what they want the PS4 to be because they need to if they want to stay in this business, they cannot afford to have another PS3. Meanwhile MS still doesn't really know what they want their console to be, is it an all in one box, is it a cloud computing power house, is it the future of video gaming?